Iran-Turkey trade stands at $4.79bn in 1st half of 2016

EghtesadOnline: Trade between Iran and Turkey stood at $4.79 billion in the first half of the year of 2016.

News ID: ۷۳۵۵۲۰

03 August 2016

IRNA economic correspondent said that trade fell by almost 12 percent mostly due to falling prices of commodities and crude in the world markets.

In the single month of June, trade between Iran and Turkey reached $839.54 million compared to the corresponding month last year which stood at $877.56 million.

Facts and figures released by Turkish foreign trade data, newly released by Turkish State Statistics Institute, show that though Iranian non-oil exports to Turkey increased, the oil prices fell down dramatically.

Since crude oil constitutes major portion of Iranian exports to Turkey, the value of Iranian exports went down and Turkey's exports to Iran rose up.

In June, Turkey's exports to Iran increased considerably, let's say 45.3 percent, compared to the single month of June last year.

It reached $489.50 million last June compared to $336.948 million in the preceding month of June.
Turkey's imports from Iran last June fell by 35.3 percent to $350.04 million compared to $540.614 million in preceding month of June.

In the first six months of last year, Turkey's exports to Iran amounted to $1.89 billion in value. It reached $2.597 billion this year.